Hut 8 Beacon Point Lease Fully Commercializes Campus

Hut 8 Beacon Point lease commercializes the Texas AI campus on July 20, 2026, expands capacity and boosts long-term NOI and contract value, aiding funding.

July 20, 2026·2 min read
View all news articles
Vector server rack and staged data hall silhouette symbolizing Hut 8 Beacon Point lease commercializing campus.

KEY TAKEAWAYS

  • Second 15-year lease for 352 MW fully commercialized Beacon Point, raising campus base-term value to $19.6 billion.
  • Campus average annual NOI about $1.3 billion over the base term.
  • Hut 8's portfolio totals 949 MW contracted and $26.6 billion aggregate base-term value.

HIGH POTENTIAL TRADES SENT DIRECTLY TO YOUR INBOX

Add your email to receive our free daily newsletter. No spam, unsubscribe anytime.

Or subscribe with

Hut 8 Corp. (Nasdaq: HUT) said on July 20, 2026, that a second lease at its Beacon Point campus fully commercializes the site and expands contracted AI data-center capacity, raising campus-level contract value and expected annual net operating income (NOI).

Beacon Point Lease Details

Hut 8 executed a second 15-year lease for 352 megawatts (MW) of IT capacity at its Beacon Point data center campus in Nueces County, Texas, with the same high-investment-grade tenant as Phase 1. The triple-net, take-or-pay lease carries a base-term contract value of $9.8 billion and a 3.0% annual base-rent escalator. The company expects cumulative NOI over the base term to equal the contract value, implying about $655 million per year upon stabilization.

Combined with Phase 1, the tenant’s contracted IT capacity at Beacon Point totals 704 MW, and the campus base-term contract value reaches $19.6 billion. Hut 8 projects average annual NOI for the campus of about $1.31 billion over the base term. Both leases include three five-year renewal options each; if fully exercised, potential campus-level contract value would rise to $50.2 billion.

Phase 2 will be built to NVIDIA’s DSX reference architecture. Hut 8 redesigned the first data hall around this architecture, achieving a 57% capacity gain without expanding land or utility footprint. The company said this densification influenced the tenant’s decision to double its contracted capacity.

Portfolio Impact and Timetable

Hut 8 secured 1,000 MW of utility capacity at Beacon Point under an interconnection agreement with AEP Texas. The company said no additional utility capacity is needed to serve Phase 2.

Across its AI data-center portfolio, Hut 8 now has contracted IT capacity of 949 MW, supported by 1,330 MW of utility capacity. The aggregate base-term contract value totals $26.6 billion, with average annual NOI exceeding $1.75 billion. All contracted AI data-center capacity is leased to or backstopped by investment-grade counterparties, which supports the company’s development and financing plans.

Hut 8 expects initial site energization at Beacon Point to remain on schedule for the first quarter of 2027, with initial Phase 2 data-hall delivery expected in the second quarter of 2028. Site preparation and long-lead equipment procurement are underway.

The Phase 2 lease significantly expands Hut 8’s contractually secured, long-duration AI data-center revenue and NOI, bringing the one-gigawatt Beacon Point campus into full commercial operation and strengthening the company’s development runway and financing profile as it executes the buildout.

HIGH POTENTIAL TRADES SENT DIRECTLY TO YOUR INBOX

Add your email to receive our free daily newsletter. No spam, unsubscribe anytime.

Or subscribe with

Read other top news stories

AMC Q2 2026 Earnings Record Quarter

AMC Q2 2026 Earnings Record Quarter

AMC Q2 2026 earnings show record revenue and adjusted EBITDA on July 20, 2026, plus stronger cash flow and operating leverage that may shift positioning.

Domino's Earnings Show Supply Chain Gains, Weak Comps

Domino's Earnings Show Supply Chain Gains, Weak Comps

Domino's earnings showed Q2 FY2026 revenue narrowly beating estimates as supply-chain and franchise revenue offset weak comps and tempered sentiment.

TSMC Q2 2026 Results Show AI Demand Surge

TSMC Q2 2026 Results Show AI Demand Surge

TSMC Q2 2026 results show a record quarter that raised 2026 revenue and capex guidance to US$60-64 billion, shifting trader focus to AI/HPC.

Brent Crude Rises on U.S.-Iran Escalation

Brent Crude Rises on U.S.-Iran Escalation

Brent crude climbed after U.S.-Iran exchanges and a U.S. naval blockade threatened Gulf shipments, lifting upside risk and reviving $4.00 gasoline.

Ryanair Profit Falls as Fares Drop, Fuel Costs Rise

Ryanair Profit Falls as Fares Drop, Fuel Costs Rise

Ryanair profit falls after lower fares and unhedged jet fuel squeezed margins, prompting traders to weigh traffic guidance versus buyback completion.

Kimi K3 Launch Tightens U.S.-China AI Race

Kimi K3 Launch Tightens U.S.-China AI Race

Moonshot AI's Kimi K3 unveiled as an open-weight model narrowing the China-US AI gap and prompting investors to reassess AI infrastructure spending.